HomeMy WebLinkAbout951514.tiffRESOLUTION
RE: THE BOARD OF EQUALIZATION, 1995, WELD COUNTY, COLORADO
PETITION OF:
GREGG RICHARD & CHERYL
4925 W. 7TH STREET
GREELEY, CO 80634
DESCRIPTION OF PROPERTY: PIN: R 1936986 PARCEL: 095903407026 - GR WMW7-26
L26 BLK7 WESTMOOR WEST %4925 W7 ST%
WHEREAS, the Board of County Commissioners of Weld County, Colorado, organized as the
Board of Equalization for the purpose of adjusting, equalizing, raising or lowering the assessment
and valuation of real and personal property within Weld County, fixed and made by the County
Assessor for the year 1995, and
WHEREAS, said petition has been heard before the County Assessor and due Notice of
Determination thereon has been given to the taxpayer(s), and
WHEREAS, the taxpayer(s) presented a petition of appeal of the County Assessor's valuation
for the year 1995, claiming that the property described in such petition was assessed too high, as
more specifically stated in said petition, and
WHEREAS, said petitioner being present, and
WHEREAS, the Board has made its findings on the evidence, testimony and remonstrances
and is now fully informed.
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld
County, acting as the Board of Equalization, that the evidence presented at the hearing supported,
in part, the value placed upon the property by the petitioner. The assessment and valuation of the
Weld County Assessor shall be, and hereby is, adjusted as follows:
Pe
A S , ZILeg9,
951514
AS0032
RE: BOE - GREGG RICHARD & CHERYL
Page 2
ORIGINAL ADJUSTED
Land
Improvements OR
Personal Property
TOTAL ACTUAL VALUE
$ 18,000 $ 18,000
108.302 101.302
$ 126.302 $ 119.309
BE IT FURTHER RESOLVED that a denial of a petition, in whole or in part, by the Board of
Equalization may be appealed by selecting one of the following three options:
1. Board of Assessment Appeals: You have the right to appeal the County
Board of Equalization's (CBOE's) decision to the Board of Assessment Appeals
(BAA). Such hearing is the final hearing at which testimony, exhibits, or any
other evidence may be introduced. If the decision of the BAA is further
appealed to the Court of Appeals only the record created at the BAA hearing
shall be the basis for the Court's decision. No new evidence can be introduced
at the Court of Appeals. (Section 39-8-108(10), CRS)
Appeals to the BAA must be made on forms furnished by the BAA, and
should be mailed or delivered within thirty (30) days of denial by the
CBOE to:
Board of Assessment Appeals
1313 Sherman Street, Room 523
Denver, CO 80203
Phone: 866-5880
2. District Court: You have the right to appeal the CBOE's decision to the District
Court of the county wherein your property is located. New testimony, exhibits
or any other evidence may be introduced at the District Court hearing. For filing
requirements, please contact your attorney or the Clerk of the District Court.
Further appeal of the District Court's decision is made to the Court of Appeals
for a review of the record. (Section 39-8-108(1), CRS)
OR
3. Binding Arbitration: You have the right to submit your case to arbitration. If
you choose this option the arbitrator's decision is final and your right to appeal
your current valuation ends. (Section 39-8-108.5, CRS)
951514
AS0032
RE: BOE - GREGG RICHARD & CHERYL
Page 3
Selecting the Arbitrator: In order to pursue arbitration, you must notify the
CBOE of your intent. You and the CBOE select an arbitrator from the official list
of qualified people. If you cannot agree on an arbitrator, the District Court of the
county in which the property is located will make the selection.
Arbitration Hearing Procedure: Arbitration hearings are held within sixty days
from the date the arbitrator is selected. Both you and the CBOE are entitled to
participate. The hearings are informal. The arbitrator has the authority to issue
subpoenas for witnesses, books, records, documents and other evidence. He
also has the power to administer oaths, and all questions of law and fact shall
be determined by him.
The arbitration hearing may be confidential and closed to the public, upon
mutual agreement. The arbitrator's written decision must be delivered to both
parties personally or by registered mail within ten (10) days of the hearing.
Such decision is final and not subject to review.
Fees and Expenses: The arbitrator's fees and expenses are agreed upon by
you and the CBOE. In the case of residential real property, such fees and
expenses cannot exceed $150.00 per case. The arbitrator's fees and expenses,
not including counsel fees, are to be paid as provided in the decision.
The above and foregoing Resolution was, on motion duly made and seconded, adopted by
the following vote on the 27th day of July, A.D., 1995.
Weld County CJbrk-"fe£I epoard
k LT
BY
Deputy Cerk tejhe 0ard
APPROVED AS TO FORM:
BOARD OF COUNTY COMMISSIONERS
14UELp COUNTY, COF DO
Dalq K. Hall, Chairman
4lc i_et-
arbara J. Kirkmeyer
George E. Baxter
FXC I ISFf)
Constance L. Harbert
n �
W. H. Webster
( )
•`1
FXCII JSFfl
951514
AS0032
4F ,J
jV-79C
BOE DECISION SHEET
PIN #: R 1936986 PARCEL #: 095903407026
GREGG RICHARD & CHERYL
5601 ARROWHEAD DR
GREELEY, CO 80631
HEARING DATE: July 27, 1995 TIME: 11:00 A.M.
HEARING ATTENDED? ) NAME
AGENT NAME:
APPRAISER NAME
DECISION:
DECREASE IN VALUATION
INCREASE IN VALUATION
NO CHANGE IN VALUATION
ASSESSMENT RATIO
ACTUAL VALUATION
ORIGINAL SET BY BOARD
Land
Improvements OR
Personal Property
Total Actual Value
COMMENTS:
MOTION BY 7i71,(/ TO
SECONDED BY -737e) /
$ 1R,nnn $ /ski non
108,302 //)/ `LJ
$ 126.302 $ 1/9) '2)7
Failed to prove appropriate value
No comparables given
Other:
1-o
Baxter - (Y-fNj-
Hall --1)
Harbert --
Kirkmeyer --4 N)
Webster - )
RESOLUTION NO._
�ffi�x �1
WE�Yc
COLORADO
July 11, 1995
RICHARD H. & CHERYL L. GREGG
4925 W.7TH STREET
GREELEY, CO 80634
CLERK TO THE BOARD
PHONE (303) 356-4000 EXT.4218
FAX: (303) 352-0242
915 10TH STREET
P.O. BOX 758
GREELEY, COLORADO 80632
Parcel No.: 095903407026 PIN No.: R 1936986
Dear Petitioner(s):
The Weld County Board of Equalization has set a date of Thursday, July 27, 1995, at or about the
hour of 11:00 A.M., to hold a hearing on your valuation for assessment. This hearing will be held
at the Weld County Centennial Center, 915 10th Street, Greeley, Colorado, in the First Floor
Hearing Room.
You have a right to attend this hearing and present evidence in support of your petition. The Weld
County Assessor will be present before the Board. The Board will make their decision on the basis
of the record made at the aforementioned hearing, as well as your petition, so it would be in your
interest to have a representative present. If you plan to be represented by an agent or an attorney
at your hearing, prior to the hearing you shall provide, in writing to the Clerk to the Board's Office,
an authorization for the agent or attorney to represent you. If you do not choose to attend this
hearing, a decision will still be made by the Board by the close of business on August 10, 1995, and
mailed to you on or before August 16, 1995.
Because of the volume of cases before the Board of Equalization, all cases shall be limited to 15
minutes. Also due to volume, cases cannot be rescheduled. It is imperative that you provide
evidence to support your position. This may include evidence that similar homes in your area are
valued less than yours or you are being assessed on improvements you do not have. Please note:
The fact that your valuation has increased cannot be your sole basis of appeal. Without
documented evidence as indicated above, the Board will have no choice but to deny your appeal.
At least two (2) working days prior to your hearing the Assessor will have available, at your request,
the data supporting his valuation of your property.
GREGG RICHARD H & CHERYL L. - R 1936986
Page 2
Please advise me if you decide not to keep your appointment as scheduled. If you need any
additional information, please call me at your convenience.
Very truly yours,
BOARD OF EQUALIZATION
Donald D. Warden,
Clerk to the Board
BY: /t�Y/LC�� 0
Kim erlee A. Schuett, Deputy
cc: Warren Lasell, Assessor
COLORADO
NOTICE OF ADJUSTMENT
GR WMW7-26 L26 BLK7 WESTMOOR WEST
%4925 W7 ST%
1400 NORTH 17th AVE.
GREELEY, COLORADO 80631
PHONE (970) 353-3845, EXT. 3656
4925 W 7 5T GREELEY
OWNER STIEBER EDWARD J L DIANNE K
STIEDER EDWARD J & DIANNE K PARCEL O959O34O7O26
PIN R 1936986
56O1 ARROWHEAD DR
GREELEY
CO 8O631
O5/3O/1995
YE AR
LOG
1 995
O3615
The appraised value of property is based on the appropriate consideration of the approaches to value required by law. The Assessor has determined
that your property should be included in the following category(ies):
RESIDENTIAL PROPERTY IS VALUED BY CONSIDERING THE MARKET APPROACH.
AGRICULTURAL LAND VALUE IS DETERMINED SOLELY BY THE EARNING OR PRODUCTIVE
CAPACITY OF THE LAND. CAPITALIZED AT A RATE SET BY LAW•
ALL OTHER PROPERTY. INCLUDING VACANT LAND. IS VALUED BY CONSIDERING THE COST.
MARKET. AND INCOME APPROACHES.
If your concern is the amount of your property tax, local taxing authorities (county, city, fire protection, and other special districts) hold
budget hearings in the fall. Please refer to your tax bill or ask your Assessor for a listing of these districts, and plan to attend these budget hearings.
The Assessor has carefully studied all available information, giving particular attention to the specifics included on your protest and has deter-
mined the valuation(s) assigned to your property. The reasons for this determination of value are:
YOUR PROPERTY VALUE HAS BEEN ADJUSTED TO REFLECT THE MARKET AS OF
6/3O/94. SALES BETWEEN JANUARY '93 AND JUNE. '94 ARE USED AND TIME
TRENDED TO THE END OF JUNE 1994. THIS IS DONE TO ACCOUNT FOR THE
CONTINUING RISE IN MARKET VALUES DURING THAT TIME PERIOD.
PROPERTY CLASSIFICATION
PETITIONER'S
ASSESSOR'S VALUATION
ESTIMATE
OF VALUE
ACTUAL VALUE
PRIOR TO REVIEW
ACTUAL VALUE
AFTER REVIEW
LAND
I MPS
18.000
1 23 7349
16,000
108,302
TOTALS $ $ 141.349$ 126,302
r-__.:.... t... 4m -thew nnneidnratinn
If you disagree with the Assessor's decision, you have the right to appeal to the County Board of Equa
39.8-106(1)(a), C.R.S. Please see the back of this form for detailed information on filing your appeal.
By:
WARREN L. LASELL
WELD COUNTY ASSESSOR
O6/15/95
15-DPT-AR
Form PR•207-67/94 ADDITIONAL INFORMATION ON REVERSE SIDE
DATE
tic
1 , tl n •.
I
July 1 o. 1995
95
Weld Co. Board of Equalization
915 10th St.
P.n. Box 758
Greeley, CO 80632
Re: PIN # R193-6986
To Whom It May Concern:
On June 30, 1995 we purchased the property identified herein and at that time were
informed of the notice of adjustment received by the previous owners regarding their
protest which shows an adjusted valuation of $126,000. This amount was reduced
from the previous valuation of $141,000. We. would like to protest this new amount in
that it is still riot reflective of the actual market value of the property.
h:e purchased the property for $112,400 and the appraisal done before closing shows
its: value at $113.000. Though the house would normally sell for more, it needs
extensive remodeling inside and out which has decreased its value substantially from
others in the neighborhood.
We request a hearing on this mailer to appeal and protest the adjusted amount in
hopes that it will be reduced to a true fair market value amount. Please schedule us
for such a hearing tco discuss our case.
Thank you for your consideration in this matter. We have enclosed a copy of the sales
contract and the appraisal on the property for your review.
Sincerely,
Richard H. and Cheryl L. I_;r,.
4925 W. 7th st.
Greeley, CO 806.34
(970)-346-8227
Pc f
APPRAISERS CERTIFICATION: The Appraiser certifies and agrees that:
6957thgr
File No. 6967THCR
1. I have researched the subject market area and have selected a minimum of three recent sales of properties most similar and proximate
to the subject property for consideration in the sales comparison analysis and have made a dollar adjustment when appropriate to reflect the
market reaction to those items of significant variation. If a significant item in a comparable property is superior to , or more favorable than.
the subject property, I have made a negative adjustment to reduce the adjusted sales price of the comparable and, if a significant item in a
comparable property is inferior to, or less favorable than the subject property, I have made a positive adjustment to increase the adjusted
sales price of the comparable.
2. I have taken into consideration the factors that have an impact on value in my development of the estimate of market value in the
appraisal report. I have not knowingly withheld any significant information from the appraisal report and I believe, to the best of my
knowledge, that all statements and information in the appraisal report are true and correct.
3. I stated in the appraisal report only my own personal, unbiased, and professional analysis, opinions, and conclusions, which are subject
only to the contingent and limiting conditions specified in this form.
4. I have no present or prospective interest in the properly that is the subject to this report, and I have no present or prospective personal
interest or bias with respect to the participants in the transaction. I did not base, either partially or completely, my analysis and/or the
estimate of market value in the appraisal report on the race, color, religion, sex, handicap, familial status, or national origin of either the
prospective owners or occupants of the subject property or of the present owners or occupants of the properties in the vicinity of the
subject property.
5. I have no present or contemplated future interest in the subject property, and neither my current or future employment nor my
compensation for performing this appraisal is contingent on the appraised value of the property.
6. I was not required to report a predetermined value or direction in value that favors the cause of the client or any related party, the
amount of the value estimate, the attainment of a specific result, or the occurrence of a subsequent event in order to receive my
compensation and/or employment for performing the appraisal. I did not base the appraisal report on a requested minimum valuation, a
specific valuation, or the need to approve a specific mortgage loan.
7. I performed this appraisal in conformity with the Uniform Standards of Professional Appraisal Practice that were adopted and
promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place as of the effective date of this appraisal,
with the exception of the departure provision of those Standards, which does not apply. I acknowledge that an estimate of a reasonable
time for exposure in the open market is a condition in the definition of market value and the estimate I developed is consistent with the
marketing time noted in the neighborhood section of this report, unless I have otherwise stated in the reconciliation section.
8. I have personally inspected the interior and exterior areas of the subject property and the exterior of all properties listed as comparables
in the appraisal report. I further certify that I have noted any apparent or known adverse conditions in the subject improvements, on the
subject site, or on any site within the immediate vicinity of the subject property of which I am aware and have made adjustments for these
adverse conditions in my analysis of the property value to the extent that I had market evidence to support them. I have also commented
about the effect of the adverse conditions on the marketability of the subject property.
9. I personally prepared all conclusions and opinions about the real estate that were set forth in the appraisal report. If I relied on
significant professional assistance from any individual or individuals in the performance of the appraisal or the preparation of the appraisal
report, I have named such individual(s) and disclosed the specific tasks performed by them in the reconciliation section of this appraisal
report. I certify that any individual so named is qualified to perform the tasks. I have not authorized anyone to make a change to any item in
the report; therefore, if an unauthorized change is made to the appraisal report, I will take no responsibility for it.
SUPERVISORY APPRAISER'S CERTIFICATION: If a supervisory appraiser signed the appraisal report, he or she certifies
and agrees that: I directly supervise the appraiser who prepared the appraisal report, have reviewed the appraisal report, agree with the
statements and conclusions of the appraiser, agree to be bound by the appraiser's certifications numbered 4 through 7 above, and am taking
full responsibility for the appraisal and the appraisal report.
ADDRESS OF PROPERTY APPRAISED: 4925 West 7th Street , Greeley, CO 80634
APPRAISER/G SU ERVISORY APPRAISER (only if required)
Signature: f(Ctt&,tature'
Name: Karen L, Cavender, SRA Name.
Date Signed: June 12 , 1995 Date Signed:
1331 8th Ave.
Greeley, CO 80631 4
(303) 356-1331 r*
FAX (303) 356-1343'
Jeanne Armstrong*.
Sales Associate
The printed portions of this fora, soxept(itelfrisd)ldift..ntiatad) sddttiona,I
have been approved by the Colorado Real Estate Caaaissioa.(CREC) (CES1-1-341
THIS PORN RAS IMPORTANT LEGAL COKSEQUE♦CESS ASD TEE PARTIES SRORID C(JSSOLT LEGAL AND TAX OR OTHER COUNSEL BEFORE SIGNING.
•
RESIDENTIAL:
CONTRACT TO BUY AND SELL REAL ESTATE
May 9, 1995
1. PARTIES AND PROPERTY.
RICHARD H. GREGG
CHERYL L. GREGG
buyer(a) [Buyer], (as joint tenants/fdd4Afd/fA/Addudd4) agrees to buy, and the undersigned aeller(s) [Seller], agrees
to sell, on the terms and conditions set forth in this contract, the following described real estate in the County
of WELD , Colorado, to wit:
LOT 26 BLOCK 7 WESTMOOR WEST SUBDIVISION,
STATE 6F COLORADO
known ee No. 4925 W. 7TH STREET, GREELEY, CO
Street Address City State Zip
together with all interest of Seller in vacated streets and alleys
nancee thereto, all improvements thereon and all attached fixtures
Property).
80634
CITY OF GREELEY,
adjacent thereto, all easements and other appurte-
thereon, except as herein excluded (collectively the
2. INCLUSIONS / EXCLUSIONS. The purchase price includes the following items (a) if attached to the
Property on the date of this contract: lighting, heating, plumbing, ventilating, and air conditioning fixtures, TV
antennas, water softeners, smoke/fire/burglar alarms, security devices, inside telephone wiring and connecting blocks/
jacks, plants, mirrors, floor coverings, intercom systems, built-in kitchen appliances, sprinkler systems and controls,
built-in vacuum systems (including accesories), and garage door openers including2 remote controls; (b) if on the
Property whether attached or not on the date of this contract: storm windows, storm doors, window and porch shades,
awnings, blinds, screens, curtain rods, drapery rods, fireplace inserts, fireplace screens, fireplace grates, heating
stoves, storage sheds, all keys and (c)
EALL WINDOWCOVERINGS, ANDAHS HOMEWARRANT
Y. SATELLITDISH,
The above -described included items (Inclusions) are to be conveyed to Buyer by Seller by bill of sale at the closing,
free and clear of all taxes, liens and encumbrances, except as provided in Section 12. The following attached fixtu:ee
are excluded from this sale:
n/a
3. PURCHASE PRICE
dollars by Buyer as follows: (Complete the applicable terms below.)
(a) EARNEST MONEY.
$1,500.00 _
PERSONAL CHECK
as earnest money deposit and part payment of the purchase price, payable to and held by
WHEELER REALTY CO/BETTER HOMES AND GARDENS , broker,
in its trust account on behalf of both Seller and Buyer. Broker is authorized to deliver the earnest money deposit to
the closing agent, if any, at or before closing.
The balance of $ 110,900.00 (purchase price less earnest money) shall be paid as follows:
(b) CASH AT CLOSING.
$4,620.00 , plus closing costa, to be paid by Buyer at closing in funds which comply with all applicable
Colorado laws, which include cash, electronic transfer funds, certified check, savings and loan teller's check, and
cashier's check (Good Funds). Subject to the provisions of Section 4, if the existing loan balance at the time of clo-
sing shall be different from the loan balance in Section 3, the adjustment shall be made in Good Funds at clueing or
paid as follows:
n/a
AND TERMS. The purchase price shall be $112,400.00
in the form of
NEW LOAN.
$106,280.00 c by Buyer obtaining a new loan. The loan shall be of the following type:
(check applicable boxes.)
[X) Conventional [ ] Fixed interest rate
[ ] FHA [ ] Adjustable interest rate
[ ] VA [ ] Graduated payment
[ ] Other
, payable in u.s.
n/a
This loan will be secured by a (let, 2nd, etc.)
1st
deed
of trust.
The loan may be increased to add the coat of mortgage insurance, VA funding fee and other items for a total loan
amount not in excess of $106,280.00 ,which shall be amortized over a period of 30 years at approximately
$ 817.20 per month including principal and interest not to exceed 8 .50:r per annum, plus, if re-
quired by Buyer's lender, a monthly deposit of 1/12 of the estimated annual real estate taxes, property insurance pre-
mium, and mortgage insurance premium. If the loan is an adjustable interest rate or graduated payment loan, the monthly
payments and interest rate initially shall not exceed the figures set forth above.
No. CBS1-1-94. RESIDENTIAL CONTRACT TO BUY AND SELL REAL ESTATE
Copyright (C) 1994, v3.ON, RealFA$T Software Publishing Inc.
Purchasers 05/09/95 14:50:30
Page 1
Prepared by - Jeanne Armstrong, Sales /ylljpfiate
Sellers
Loan discount points, if any, shall be paid to lender at closing and shall not exceed 0.000% of the total loan
anount. Notwithstanding the loan's interest rate, the first 0.000 loan discount points shall be paid by
n/a
and the balance, if any, shall be paid by
n/a
Buyer shall timely pay a loan origination fee not to exceed 1 .000 I of the loan amount and Buyer's loan costs.
(d) oASSUMPTION.
$0 U by Buyer's assuming and agreeing to pay an existing loan in this approximate amount, presently
payable at $0.00 per month principal, interest presently at 0.000% per annum, and including
escrow for the following as indicated:
[ ] real estate taxes, [ ) property insurance premium, ( ] mortgage insurance premium, and
n/a
Buyer agrees to pay a loan transfer fee not to exceed $0.00 . At the time of assumption, the new
interest rate shall not exceed 0.000 t per annum and the bew monthly payment shall not exceed
$ 0.00 principal and interest, plus escrow, if any.
Seller [ ] shall [ ] shall not be released .from liability on said loan, and if a VA -guaranteed loan, Seller's
eligibility [ ] shall [ ] shall not be reinstated. If applicable, compliance with the requirements for release from
liability or reinstatement of eligibility shall be evidenced by delivery at closing of appropriate letter of commitment
from ( ] VA ( ) lender. Cost payable for release of liability/reinstatement of VA eligibility shall be paid by
n/a
in an
amount not to exceed $0.00
(e) SELLER OR PRIVATE THIRD -PARTY FINANCING.
$0.00 by Buyer executing a promissory note payable to:
n/a
note form as indicated: (Check one box only.)
[ ] Right -to -Cure NTD 82-11-83 [ ] No Right -to -Cure NTD 81-11-83
[ ] n/a
secured by a (let, 2nd, etc.) n/a deed of trust encumbering the Property, using the
form ae indicated: (Check one box only.)
[ ] Strict Due-on-Sale(TD72-11-83) ( ] Creditworthy(TD73-11-83) [ ] Assumable -Not due on eale(TD74-11-83)
[ ] n/a
The promissory note shall be amortized on the basis of ()years, payable at $0.00 per month including
principal and interest at the rate of 0.000% per annum. Payments shall commence n / a
and shall be due on the n / a day of each succeeding month. If not sooner paid, the balance
of principal and accrued interest shall be due and payable n / a
after closing. Payments [ ] shall [ ] shall not be increased by 1/12 of estimated annual real estate taxes, and
[ ] shall [ ] shall not be increased by 1/12 of estimated annual property insurance premium.
The loan shall also contain the following terms as indicated: If any payment is not received within 0 calendar
days after its due date, a late charge of U .000% of such monthly payment shall be due. Interest on lender dis-
bursements under the deed of trust shall be 0 .000% per annum. Default interest rate shall be 0.000% per annum.
Buyer may prepay without a penalty except
n/a
(c) FHA/VA PROVISIONS.
(1) PHA. It ie expressly agreed that notwithstanding any other provisions of this contract, the Purchaser (Buyer)
shall not be obligated to complete the purchase of the Property described herein or to incur any penalty by forfeiture
of earnest money deposits or otherwise unless the Purchaser (Buyer) has been given in accordance with HUD/FHA or VA
requirements a written statement by the Federal Housing Commissioner, Veterans Administration, or a Direct Endorsement
lender setting forth the appraised value of the Property of not less than $0.00 The Purchaser
(Buyer)shall have the privilege and option of proceeding with consummation of the contract without regard to the amount
of the appraised valuation. The appraised valuation is arrived at to determine the maximum mortgage the Department of
Housing and Urban Development will insure. HUD does not warrant the value nor the condition of the Property. The Pur-
chaser (Buyer) should satisfy himself/herself that the price and condition of the Property are acceptable.
(2) VA. If Buyer is to pay the purchase price by obtaining a new VA -guaranteed loan: It is agreed that, notwith-
standing any other provision. of this contract, Buyer shall not incur any penalty by forfeiture of earnest money or
otherwise be obligated to complete the purchase of the Property described herein, if the contract purchase price or
coat exceeds the reasonable value of the Property established by the Veterans Administration. Buyer shall, however,
have the privilege and option of proceeding with the consummation of this contract without regard to the amount of the
reasonable value established by the Veterans Administration.
(d) EXISTING LOAN REVIEW. If an existing loan is not to be released at closing, Seller shall provide copies of
the loan documents (including note, deed of trust, modificatione) to Buyer within 0 calendar days from acceptance
of this contract. This contract is conditional upon Buyer's review and approval of the provisions of ouch loan docu-
ments. Buyer consents to the provisions of such loan documents if no written objection is received by Seller from Buyer
within 0 calendar days from Buyer's receipt of such documents. If the lender's approval of a transfer of the
Property is required, this contract is conditional upon Buyer's obtaining such approval without change in the terms of
such loan, except ae eat forth in Section 3. If lender's approval is not obtained on or before
n / a , this contract shall be terminated on ouch date. If Seller is to be released from
liability under such existing loan or if Seller's VA eligibility is to be reinstated and Buyer does not obtain such
compliance as set forth in Section 3, this contract may be terminated at Seller's option.
(e) ASSUMPTION BALANCE. If Buyer is to pay all or part of the purchase price by assuming an existing loan and if
the actual principal balance of the existing loan at the date of closing is less than the amount in Section 3 and the
amount of cash required from Buyer at closing is increased by more than $0.00 , then Buyer may term-
inate this contract effective upon receipt by Seller of Buyer's written notice of termination.
(f) CREDIT INFORMATION. If Buyer is to pay all or part of the purchase price by executing a promissory note in
favor of Seller or if an existing loan ie not to be released at closing, this contract is conditional upon Seller's
approval of Buyer's financial ability and creditworthiness, which approval shall be at Seller's sole and absolute dis-
cretion. In such case: (1) Buyer shall supply to Seller on or before Ilia. at Buyer's
expense, information and documents concerning Buyer's financial, employment and credit condition; (2) Buyer consents
that Seller may verify Buyer's financial ability and creditworthiness; (3) any such information and documents received
by Seller shall be held by Seller in confidence, and not released to others except to protect Seller's interest in this
transaction; (4) if Seller does not provide written notice of Seller's disapproval to Buyer on or before
n / a , then Seller waives this condition. If Seller does provide written notice of disap-
proval to Buyer on or before said date, this contract shall terminate.
5. APPRAISAL PROVISION.
(Check one box only.) This Section 5 ()(] shall [ ] shall not apply.
on the
4. FINANCING CONDITIONS AND OBLIGATIONS.
(a) LOAN APPLICATION(S). If Buyer is to pay all or part of the purchase price as set forth in Section 3 by ob-
taining a new loan or if an existing loan is not.to be released at closing, Buyer, if required by such lender, shall
make written application within `5 calendar days from acceptance of this contract. Buyer shall cooperate with Seller
and lender to obtain loan approval, diligently and timely pursue same in good faith, execute all documents and furnish
all information and documents required by the lender, and, subject to Section 3, timely pay the costs of obtaining such
loan or lender consent.
(b) LOAN APPROVAL. If Buyer is to pay all or part of the purchase price by obtaining a new loan as specified in
Section 3,,(( this contract is conditional upon lender's approval of the new loan on or before
June L 8, 1995 . If not so approved by said date, this contract shall terminate.
The printed portions of this form, except (italicized)(differentiated) additione, have been approved by the CREC
No. CBS1-1-94. RESIDENTIAL CONTRACT TO BUY AND SELL REAL ESTATE Page
Copyright (C) 1994, v3.0N, Rea1FA$T Software Publishing Inc. Prepared by - Jeanne Armstrong, Sales A
Purchasers 05/09/95 14:58:30 Sellers
2
This section 5 shall not apply if Buyer is to obtain a new FHA or VA loan. If this Section 5 applies, as indicated
above, Buyer shall have the right to terminate this contract if the purchase price exceeds the Property's valuation
determined
by n appraiser engaged by
BUYER AND LENDER
If Seller receives a copy of such appraisal or written notice from lender which confirms the Property's valuation is
leas than the purchase price, on or before June 23 , 1995 (Appraisal Deadline), this contract shall
terminate. Buyer shall have the privilege and option of proceeding with consummation of this contract without regard
to the amount of the appraised valuation. Upon closing, Buyer waives any objection to the Property's valuation.
6. COST OF APPRAISAL.Cost of any appraisal to be obtained after the date of this contract shall be timely
paid by
BUYER
7. NOT ASSIGNABLE. This contract shall not be aesignablis by Buyer without Seller's prior written consent.
Except as so restricted, this contract shall inure to the benefit of and be binding upon the heirs, personal represen-
tatives, successors and assigns of the parties.
8. EVIDENCE OF TIME. Seller shall furnish to Buyer, at Seller's expense, e tiek/a current commitment for
owner's title insurance policy in an amount equal to the purchase price dt/dt/d6llet/d/6X616!(//dd/dddYtddY/dt/Yitld
66ttifidd/Yd/d/6dttldf//ddYd(/ on or before May 23, 1995 (Title Deadline). If a title insurance
commitment is furnished, Buyer may require of Seller that copies of instruments (dt/dbdIid6Y d/df/LddYtddddt4J listed in
the schedule of exceptions (Exceptions) in the title insurance commitment also be furnished to Buyer at Seller's ex-
pense. This requirement shall pertain only to instruments shown of record in the office of the clerk and recorder of
the designated county or counties. The title insurance commitment, together with any copies dt/4Ndttiefd of instruments
furnished pursuant to this Section 8, constitute the title documents(Title Documents). Buyer, or Buyer's designee, must
request Seller, in writing, to furnish copies dt/abAYEAUtd of instruments listed in the schedule of exceptions no later
than 7 calendar days after Title Deadline. If Seller furnishes a title insurance commitment, Seller will pay the
premium at closing and have the title insurance policy delivered to Buyer as soon as practicable after closing.
9. TITLE.
(a) TITLE REVIEW. Buyer shall have the right to inspect the Title Documents dt/4YAttS4Y. Written notice by Buyer
of u`unerchantability of title or of any other unsatisfactory title condition shown by the Title Documents dt/4$fYtidt
shall be signed by or on behalf of Buyer and given to Seller on or before 7 calendar days after Title Deadline, or
within five (5) calendar days after receipt by Buyer o£ any Title Document(e) or endorsement(s) adding new Exception(s)
to the title commitment together with a copy of the Title Document adding new Exception(s) to title. If Seller does
not receive Buyer's notice by the date(s) specified above, Buyer accepts the condition of title as disclosed by the
Title Documents as satisfactory.
(b) MATTERS NOT SHOWN BY THE PUBLIC RECORDS. Seller shall deliver to Buyer, on or before the Title Deadline set
forth in Section 8, true copies of all lease(e) and survey(a) in Seller's possession pertaining to the Property and
shall disclose to Buyer all easements, liens or other title matters not shown by the public records of which Seller has
actual knowledge. Buyer shall have the right to inspect the Property to determine if any third party(s) has any right
in the Property not shown by the public records (such as an unrecorded easement, unrecor a lease, or boundary line
discrepancy). Written notice of any unsatisfactory condition(a)disclosed by_Seller or rev, i�. such inspection shall
be signed by or on behalf of Buyer and given to Seller on or before May,C.5, 1995--^^''!!l/ii7�/1/ If Seller does
not receive Buyer's notice by maid date, Buyer accepts title subject to such rights, if any, £ third parties of which
Buyer has actual knowledge.
(C) SPECIAL TAXING DISTRICTS. SPECIAL TAXING DISTRICTS MAY BE SUBJECT TO GEN-
ERAL OBLIGATION INDEBTEDNESS THAT IS PAID BY REVENUES PRODUCED FROM ANNUAL TAX LEV-
IES ON THE TAXABLE PROPERTY WITHIN SUCH DISTRICTS. PROPERTY OWNERS IN SUCH DISTRICTS
MAY BE PLACED AT RISK FOR INCREASED MILL LEVIES AND EXCESSIVE TAX BURDENS TO SUPPORT
THE SERVICING OF SUCH DEBT WHERE CIRCUMSTRANCES ARISE RESULTING IN THE INABILITY OF
SUCH A DISTRICT TO DISCHARGE SUCH INDEBTEDNESS WITHOUT SUCH AN INCREASE IN MILL LEV-
IES. BUYER SHOULD INVESTIGATE THE DEBT FINANCING REQUIREMENTS OF THE AUTHORIZED GEN-
ERAL OBLIGATION INDEBTEDNESS OF SUCH DISTRICTS,EXISTING MILL LEVIES OF SUCH DISTRICT
SERVICING SUCH INDEBTEDNESS, AND THE POTENTIAL FOR AN INCREASE IN SUCH MILL LEVIES.
In the event the Property is located within a special taxing district and Buyer desires to terminate this contract
as a result, if written notice is given to Seller on or before the date set forth in subsection 9 (b), this contract
shell then terminate. If Seller does not receive Buyer's notice by the date specified above, Buyer accepts the effect
of the Property's inclusion in such special taxing district(s) and waives the right to so terminate.
(d) RIGHT TO CURE. If Seller receives notice of unmerchantability of title or any other unsatisfactory title
condition(s) as provided in subsection (a) or (b) above, Seller shall use reasonable effort to correct said unsatis-
factory title condition(s) prior to the date of closing. If Seller fails to correct said unsatisfactory title condi-
tion(s) on or before the date of closing, this contract shall then terminate; provided, however, Buyer may, by written
notice received by Seller, on or before closing, waive objection to said unsatisfactory title co on(s).
WmV
10. INSPECTION. Seller agrees to provide Buyer on or before M" lei-- 9-,-1-9-95
Property Disclosure form completed by Seller to the beat of Seller's current actual knowledge. Bur or any designee,
a hall have the right to have inspection(e) of the physical condition of the Property and Inclusions, at Buyer's ax-
on, signed by or on behalf of Buyer, is not received by Seller on
eadline), the physical condition of the Property and Inclusions
ice is received by Seller as set forth above, and 'tC`fP//�7'9t/udj'yer and
Seller have not agreed, in writing, to a settlement tfereof on or before June -6, 1995 j.dAr✓L/) n e three
ldb lution
Deadline),thie contract shall terminate three calendar days following the Resolution Deadline; unless, with
calendar days, Seller receives written notice from Buyer waiving objection to any unsatisfactory condition. uyer is
responsible for and shall pay for any damage which occurs to the Property and Inclusions as a result of such epection.
11. DATE OF CLOSING. The date of closing shall beJuly 3, 1995 , or by mutual agreement
at an earlier date. The hour end place of closing shall be designated by
penes. If written notice of any unq atiefactory c
or before t4 z-25-,--n9j5 /,(J,4LILO (Obj
shall be deemed to be satisfactory to Buyer. If such
WHEELER REALTY CO/BETTER HOMES AND GARDENS
with.a Seller's
12. TRANSFER OF TITLE. Subject to tender or payment at closing as required herein and compliance by
Buyer with the other terms and provisions hereof, Seller shall execute and deliver a good and sufficient
General Warranty
deed to
Buyer, on closing, conveying the Property free and clear of all taxes except the general taxes for the year of closing,
and except
n/a
Title shall be conveyed free and clear of all liens for special improvements installed as of the date of Buyer's signa-
ture hereon, whether assessed or not; except (i) distribution utility easements(including cable TV), (ii) those matters
reflected by the Title Documents accepted by Buyer in accordance with subsection 9(a), (iii) those rights, if any, of
third parties in the Property not shown by the public records in accordance with subsection 9(b), (iv) inclusion of the
Property within any special taxing district, and (v) subject to building and zoning regulations.
13. PAYMENTS OF ENCUMBRANCES. Any encumbrance required to be paid shall be paid at or before closing
from the proceeds of this transaction or from any other source.
The printed portions of this form, except (italicized)(differentiated) additions, have been approved by the CREC
No. CBS1-1-94. RESIDENTIAL CONTRACT TO BUY AND SELL REAL ESTATE Page
Copyright (C) 1994, v3.0N, RealFA$T Software Publishing Inc. Prepared by - Jeanne Armstrong, Sales As
Purchasers 05/09/95 14:58:30 Sellers
3
c
14. CLOSING COSTS, DOCUMENTS AND SERVICES. Buyer and Seller shall pay, in Good Funds, their re-
spective closing coats and all other items required to be paid at closing, except as otherwise provided herein. Buyer
and Seller shall sign and complete all customary or required documents at or before closing. Fees for real estate elm -
sing services shall not exceed $100.00 and shall be paid at closing by
1/2 BY SELLER AND 1/2 BY BUYER
The local transfer tax of U . U U t of the purchase price shall be paid at closing by
n/a
Any sales and use tax that may accrue because of this transaction shall be paid when due by
n/a
15. PROBATIONS. General taxes for the year of closing, based on the taxes for the calendar year immed-
iately preceding closing, rents, water and sewer charges, owner's association dues, and interest on continuing loan(s),
if any, and
NO OTHER
shall be prorated to date of closing.
FHA or private mortgage insurance premium
amount shall be apportioned as follows:
n/a
] shall [X] shall not be apportioned to date of closing. Any such amount
16. POSSESSION. Possession of the Property shall be delivered to Buyer as follows:
AS PER LEASE AGREEMENT IN PARAGRAPH 21.
subject to the following lease(s) or tenancy(e):
n/a
if Seller, after closing, fails to deliver possession on the date herein specified, Seller shall be subject to eviction
and shall be additionally liable to Buyer for payment of $0.00 per day from the date of agreed possession
until possession is delivered.
Buyer [X] does [ ] does not represent that Buyer will occupy the Property as Buyer's principal residence.
17. CONDITION OF AND DAMAGE TO PROPERTY. Except as otherwise provided in this contract, the Prop-
erty and Inclusions shall be delivered in the condition exieting as of the date of this contract, ordinary wear and
tear excepted. In the event the Property shall be damaged by fire or other casualty prior to time of closing, in an
amount of not more than ten percent of the total purchase price, Seller shall be obligated to repair the same before
the date of clueing. In the event such damage is not repaired within said time or if the damages exceed such sum, this
contract may be terminated at the option of Buyer. Should Buyer elect to carry out this contract despite such damage,
Buyer shall be entitled to credit for all the insurance proceeds resulting from such damage to the Property and Inclu-
sions, not exceeding, however, the total purchase price. Should any Inclusion(s) or service(s) fail or be damaged be-
tween the date of this contract and the date of closing or the date of possession, whichever shall be earlier, then
Seller shall be liable for the repair or replacement of such Inclusion(e)or service(e) with a unit of similar size, age
and quality, or an equivalent credit, less any insurance proceeds received by Buyer covering such repair or replacement.
18. TIME OF ESSENCE/REMEDIES. Time is of the essence hereof. If any note or check received as earnest
money hereunder or any other payment due hereunder is not paid, honored or tendered when due, or if any other obliga-
tion hereunder is not performed or waived as herein provided, there shall be the following remedies:
(a) IF BUYER IS IN DEFAULT: [CHECK ONE BOX ONLY.]
[X) (1) SPECIFIC PERFORMANCE. Seller may elect to treat this contract as cancelled, in which case all payments and
things of value received hereunder shall be forfeited and retained on behalf of Seller, and Seller may recover such
damages as may be proper, or Seller may elect to treat this contract as being in full force and effect and Seller shall
have the right to specific performance or damages, or both.
[ ] (2) LIQUIDATED DAMAGES. All payments and things of value received hereunder shall be forfeited by Buyer and re-
tained on behalf of Seller and both parties shall thereafter be released from all obligations hereunder. It is agreed
that such payments and things of value are LIQUIDATED DAMAGES and (except as provided in subsection (c)) are SELLER'S
SOLE AND ONLY REMEDY for Buyer's failure to perform the obligations of this contract. Seller expressly waives the
remedies of specific performance and additional damages.
(b) IF SELLER IS IN DEFAULT: Buyer may elect to treat this contract as cancelled, in which case all payments and
things of value received hereunder shall be returned and Buyer may recover such damages as may be proper, or Buyer may
elect to treat this contract as being in full force and effect and Buyer shall have the right to specific performance
or damages, or both.
(c) COSTS AND EXPENSES. Anything to the contrary herein notwithstanding, in the event of any arbitration or lit-
igation arising out of this contract, the arbitrator or court shall award to the prevailing party all reasonable costs
and expenses, including attorney fees.
19. EARNEST MONEY DISPUTE. Notwithstanding any termination of this contract, Buyer and Seller agree
that, in the event of any controversy regarding the earnest money and things of value held by broker or closing agent,
unless mutual written instructions are received by the holder of the earnest money and things of value, broker or
closing agent shall not be required to take any action but may await any proceeding, or at broker's or closing agent's
option and Bole discretion, may interplead all parties and deposit any moneys or things of value into a court of compe-
tent jurisdiction and shall recover court coats and reasonable attorney fees.
20. ALTERNATIVE DISPUTE RESOLUTION; MEDIATION. If a dispute arises between the parties relating
to this contract, the parties agree to submit the dispute to mediation. The parties will jointly appoint an acceptable
mediator and will share equally in the coat of such mediator. If mediation proves unsuccessful, the parties may then
proceed with such other means of dispute resolution as they so choose.
21. ADDITIONAL PROVISIONS:
1. SELLERS WILL CREDIT TO PURCHASERS A $3,800.00 FLOOR COVERING
ALLOWANCE AT CLOSING.
2. BUYERS WAIVE THEIR RIGHT FOR AN INSPECTION AS PROVIDED FRO
IN PARAGRAPH 10.
3. BUYERS WILL LEASE PROPERTY BEGINNING MAY 20, 1995 UNTIL THE
DAY OF CLOSING (JULY 3, 1995). MONTHLY RENT OF $800.00 TO BE
PAID IN ADVANCE AT THE BEGINNING OF EACH MONTHLY PERIOD. IF FOR
ANY REASON THIS SALE SHOUL NOT CL SE, BUYERS WILL VACATE
PROPERTY WITHIN ONE WEEK. ��forQ4ed krvrn knP ao]159S ' 'i)IWS 1,
4. THIS CONTRACT IS CONTINGENT UPON BUYERS RECEIVING
PRE -QUALIFICATION LETTER BY MAY 15, 1995 OR THIS CONTRACT IS
NULL AND VOID.
5. ALL UTILITIES WILL BE TRANSFERRED UPON POSESSION ON MAY 20,
The printed portions of this form, except (italicized)(differentieted) additions, have been approved by the CREC
No. CBS1-1-94. RESIDENTIAL CONTRACT TO BUY AND SELL REAL ESTATE Page 4
Copyright (C) 1994, v3.0N, RealFA$T Software Publishing Inc. Prepared by - Jeanne Armstrong, Sales A
Purchasers 05/09/95 14:58:30 Sellers
C
1995.
6OFFER IN
. BUYERS ARE AWARE THAT ACCEPTANCE OF THIS OFFER PUTS THIS
PURCHASERS EINN11STPOSITION
TIONBEHIND
HAVE 3 WORKINGNDAYSTLy I(MAYF19, 1995) BY
5:00 P.M. TO REMOVE THEIR CONTINGENCY. IN THE EVENT WITHIN THE 3
WORKING DAYS FROM SELLERS ACCEPTANCE SAID CONTINGENCY IS NOT
REMOVED IN WRITING SAID CONTRACT SHALL TERMINATE AND THIS
REMOVEDTONHALL BE THE SAIDNCONTRST ACCTITHIIS CONTRACT WILLIREMAIN IS
2ND
POSITION.
22. RECOMMENDATION OF LEGAL COUNSEL. By si gninthis the Selling Company or the Listing Company has advised that this'document, Buyer and Seller acknowledge that
document has important legal consequences and has
recommended the examination of title and consultation with legal and tax or other counsel before signing this contract.
23. TERMINATION. In the event this contract is terminated, all payments and things of value received
hereunder shall be returned and the parties shall be relieved of all obligations hereunder, subject to Section 19.
24. SELLING COMPANY BROKER RELATIONSHIP. The selling broker,
Wheeler Realty Company
Better Homes & Gardens
and its salespersons have been engaged as
TRANSACTION -BROKER
Selling Company has previously disclosed in writing to the Buyer that different relationships are available which in-
clude buyer agency, seller agency, subagency, or transaction -broker.
25. NOTICE TO BUYER. Any notice to Buyer shall be effective when received by Buyer, or, if this box is
checked [ ] when received by Selling Company.
26. NOTICE TO SEIALER. Any notice to Seller shall be effective when received by Seller or Listing Company.
27. MODIFICATION OF THIS CONTRACT. No subsequent modification of any of the terms of this contract
shall be valid, binding upon the parties, or enforceable unless made in writing and signed by the parties.
subj28. ENTIRE AGREEMENT. This contract constitutes the entire contract between the parties relating to the
ect hereof, and any prior agreements pertaining thereto, whether oral or written, have been merged and integrated
into this contract.
29. NOTICE OF ACCEPTANCE: COUNTERPARTS. This proposal shall expire unless accepted in writing, by
Buyer and Seller, as evidenced by their signatures below, and the offering party receives notice of such acceptance on
or before May 9, 1995 9 :00P.M. (Acceptance Deadline).
become a contract between Seller and Buyer. A If accepted, this document shall
each party copy of this document hy be executed by each party, separately, cand when
has executed a copy thereof, such copies taken together shall be deemed to be a full and complete contract
between the parties.
Buyer- RICHARD H. G GG
Date of Buyer� ejgnatur
Buyer- 6-HERYL
Date of Buyer's pig ore
Buyer's Address
Phone:
Bus :
Fax :
I I
seller -EDWARD J. SPIEBER
Date of Seller's signature
seller_DIANNE K. S'I'IEBER
Date of Seller's signature
Seller'e Address 5601 ARROWHEAD DR, GREELEY, CO 80634
Phone:
Bus :
Fax :
The undersigned Broker(s) acknowledges reciept o£ the earnest money deposit specified in Section 3, and Selling
Company confirms its Broker Relationship as set forth in Section 24.
Selling Company
Wheeler Realty Company
Better Homes & Gardens
By:
Signature
Address 1331 8th Ave., Greeley, CO 8O631 Jeanne Armstrong irate
N
Phone: ( 303) 356-13,11 �, `T(Nennp Niter
Fax .(3031 356-1343
Listing Company WHEELER REALTY/BETTER HOMES AND GARDENS
By
Signature FLORENCE HART
Address ,
Phone:
Fax :
Date
The printed portions of this form, except (italicized)(differentiated) additions, have been approved by the CREC
No. CBS1-1-94. RESIDENTIAL CONTRACT TO BUY AND SELL REAL ESTATE
Copyright (C) 1994, v3.0N, RealFAST Software Publiehin Inc. Page 5
Purchasers Prepared by - Jeanne Armstrong, Sales As
05/09/95 14:58:30 Sellers
BUYER SETTLEMENT STATEMENT
FILE NO. CO33692E CLOSING OFFICER: LINDY MCCARTY
BUYER: RICHARD H. GREGG CHERYL L. GREGG
4925 4 7TH STREET
GREELEY CO 80634
SELLER: EDWARD J. STIEBER DIANNE K. STIEBER
PROPERTY: 4925 W 7TH STREET GREELEY CO 80634
SETTLEMENT DATE: 06-30-95 PRORATION DATE: 06-30-95 SALE PRICE: 112,400.00
BUYER CHARGES
SALE PRICE
RECORDING ASSIGNMENT
to AUSTIN MORTGAGE, INC.
ORIGINATION FEE
to AUSTIN MORTGAGE, INC.
APPRAISAL FEE
to KAREN CAVENDER
CREDIT REPORT FEE
to FACTUAL DATA
REALTY TAX SERVICE FEE
to AUSTIN MORTGAGE, INC
FLOOD CERT
to AUSTIN MORTGAGE, INC
OVERNIGHT DELIVERY
to AUSTIN MORTGAGE, INC
LOAN CLOSING FEE
tO AUSTIN MORTGAGE, INC
PREPAID INTEREST
from 06-30-95 to 07-01-95'$23.3972 per
day for 1 day(s)
to AUSTIN MORTGAGE, INC.
MORTGAGE INSURANCE PREMIUM for 2 months
to COMMONWEALTH MTG
HAZARD INSURANCE for 1 years
to STATE DFARM
HAZARD INS. RESERVE for 2 months ® 42.92/month 85.84
MORTGAGE INS. RESERVE for 1 months ® 68.50/month 68.50
COUNTY TAX RESERVE for 5 months ® 97.58/month 487.90
CLOSING FEE 50.00
to WELD COUNTY TITLE COMPANY
DOCUMENT PREPARATION FEE
to AUSTIN MORTGAGE, INC.
TAX CERT
to WELD COUNTY TITLE COMPANY
FORMS 100, 8.1„ 103.3 & 100.30
to WELD COUNTY TITLE COMPANY
LENDER'S POLICY
to WELD COUNTY TITLE COMPANY
RECORDING DEED(S)
RECORDING TRUST DEED(S)
STATE DOCUMENTARY FEE
DOCUMENT SURCHARGE TO BUYER
SURVEY
to LAND
112,400.00
5.00
GROSS DUE FROM BUYER
BUYER CREDITS
FIRST LOAN CREDIT
to AUSTIN MORTGAGE, INC.
EARNEST MONEY DEPOSIT
APPRAISAL/CREDIT REPORT
CONTINUED ON PAGE 2
SEE 2ND PAGE
106,750.00
1,500.00
365.00
Weld County Title Company
APPROVED AND ACCEPTED
1,067.50
350.00
55.00
70.00
29.00
15.00
75.00
23.40
137.00
515.00
175.00
15.00
162.00
75.00
5.00
30.00
11.24
3.00
75.00
115,985.38
Broker
C;;77.-.77'
By. ,,.,�L�i✓LwDi
Closing Agent for Weld County. Title Company
1221 8th Ave. Greeley, CO 80631 • (303) 356-3232 Fax (303) 356-3248 WCT 003-B 10/92
CO33692E
BUYER SETTLEMENT STATEMENT PAGE 2
:OUNTY TAX PRORATION CR/DR
from 01-01-95 to 06-30-95 ® 3.2056/day 577.02
2ENTS 114.28
DAMAGE DEPOSIT 800.00
AGGREGATE ACCOUNTING ADJUSTMENT 152.24
TOTAL PAID BY/FOR BUYER 110,258.54
GROSS DUE FROM BUYER
TOTAL PAID BY/FOR BUYER
NET FROM BUYER
RI
CHERYL L
Weld County Title Company
APPROVED AND ACCEPTED
Broker WHEELER REALTY
5(2 1 8th Ave. Greeley, CO 80631 • (303) 356-3232 Fax (303) 356-3248
osmg Agent for Weld County Titl
ompany
115,985.38
110,258.54
5,726.84
WCT 003-B 10/92
UhORM RESIDENTIAL APPRAISAL h
ORT
6957thgr
File No. 6967THGR
Freddie Mac Form 70 6-93
Property Address 4925 West 7th Street City Greeley State CO ZipCode80634
Legal Description at WMW7-26 L26 Blk7 Westmoor West countyWeld
Assessor's Parcel No. 095903407026 Tax Year 1 994 RE. Taxes 51 16 . S ecial Assessments SO. 00
Borrower GREGG, Richard & Cher 1 Current Owner Coffey Clarence & Dian Occupant: Owner X Tenant u Vacant
„ Properly rights appraised [ X) Fee Simple [ -I I easehold Project Type f I PUD 1 1 Condominium (HUD/VA only) HOAS 0 .00/Mo.
Neighborhood or Project Name Westmoor West Map Reference CO2 Census Tract 14 .02
Sale Price $ 112,400 Dale of Sale 5/9/95 Description and $ amount of loan charges/concessions to be paid by seller None
Lender/ClientAustin Mortgage Address3665 JFK Parkway Fort Collins, Co 80525
Appraiser Karen L. Cavender, SRA Address2828 Silverplume E-3 Fort Collins, Colorado 80526
._
Location U
Built up [1]Over
Growth rate ❑Rapid
�11
Urban tLxl Suburban [_ J Rural
75% rJ 25-75% (_I Under 25%
0Stable �-I Slow
Predominant
occupancy i�cc
LJ Owner
Single family housing
fRaICpE AGE
80 Low new
Present land use %
One family 60
2-4 family 5
Land use change
❑ Not likely ❑R Likely
❑X In process
Properly values [II] increasing ❑x Stable I_I Declining
U Tenant
200 High a
Multi-tamily 5
To: Residential
Demand/supply ❑1 Shortage Inbalance ill Oversupply
[j Vacant(0-5%)
Predominant i
Commercial 0
from vacant land
r❑X
time r 1 Under 3 mos. nit 3-6 mos. ❑ Over6 mos.
❑ vacant Cover 6%)
115 1 15
vacant) 30
Note: Race and the racial composition of the neighborhood are not appraisal factors.
Neighborhoodboundariesandcharacteristics: The area is defined by WCR64 on the north, 59th Avenue on the West,
. 10th Street on the south, and 35th Avenue on the east.
Factors that affect the marketability of the properties in the neighborhood (proximity to employment and amenities, employment stability, appeal to market. etc.):
• The area is in the NW quadrant of the city, approximately 3 miles from the original downtown
business district. Neighborhood shopping, an elementary school, a community college and several
city parks are within one mile. Good access to major services. Homes in the subject's
subdivision are average to good quality tract homes and are generally well maintained and have
average to good landscaping. New contruction to the north.
Market conditions in the subject neighborhood (including support for the above conclusions related to the trend of property values, demand/supply. and marketing lime
- - such as data on competitive properties for sale in the neighborhood, description of the prevalence of sales and financing concessions, etc.):
The Greeley market has experienced appreciation for five years with some stabilization occuring
in 1994 due to higher interest rates. Lower end price range shows greatest demand. The average
sales price, as reported through MLS has increased 57 over the last yr. Typical marketing time
has increased slightly. There is good availability of mortgage money at 7.57-87 for FRMS. It is
unusual for sellers to pay points.
Project Information for PUDs (If applicable) - - Is the developer/builder in control of the Home Owners' Association (HOA)? U YES U NO
N/A Approximate total number of units for sale in the subject project N/A
Approximate total number of units in the subject project .
Describe common elements and recreational facilities: None
Dimensions 75.00' x 110.00'
Topography Basically level
Size Typical for area
��,�,��
area 8250 Sq.Ft. Comer Lot U Yes No
Site IJ
Shape Rectangular
Specific zoning classification and description R -1y Residential
Drainage Appears adequate
Zoning compliance ❑X Legal ❑ Legalnonconforming(Grandfathered use) U Illegal U No zoning
MC Highest & best use as improved: I n I Present use Li Other use (explain)
View Average; Area
Landscaping Average
Utilities Public Other
Electricity ❑R
Off -site Improvements Type Public Private
Street Asphalt [J ❑
Driveway Surface Concrete
Apparent easements None apparentEx)
m Gas
Curb/gutter Concrete ❑R ❑
1�11
FEMA Special Flood Hazard Area LJ Yes No
FEMA Zone C Map Date 9/28/82
r❑�LJ
Water
Sidewalk Concrete ❑X ❑
Sanitary sewer ❑X
Streetlights Incandescent Q ❑
FEMA Map No. 080266-0061 C
Storm sewer ❑ None
Alley None ❑ ❑
areas, illegal or legal nonconforming zoning. use. etc.): There are no
Comments (apparent adverse easements, encroachments, special assessments, slide
adverse easements or encoachments. The landscaping is average in amount (sod only in back yard)
and maintenance. The back yard has a wood slat periphery fence and a chain link dog run.
_
GENERAL DESCRIPTION
EXTERIOR DESCRIPTION
Concrete
FOUNDATION
Slab Basement
BASEMENT
Area Sq.Ft. 594
INSULATION
Root Cncld. ❑X
No. of Units One
Foundation
Three
Exterior Walls Frm: HB, BV
crawispace Partial
% Finished 0
Ceiling Cncld.
No. of Stories
���❑''''1111
Asphalt Sh
Basement Yes
Ceiling Unf in
Walls Cncld.
Type (Del/Alt.) Detached
Roof Surface
Galv.Metal
Sump Pump None
Walls Unf in
Floor n❑
Design (Style) Four Lvl
Gutters& Dwnspis.
Wood Sldrs
Dampness None noted
Floor Concrete
None
y Existing/Proposed Existing
Window Type
DP/Screens
Settlement None noted
Outside Entry None
UnknownCI
Age (Yrs.) 12: 1983
storm/Screens
Effective Age (Yrs.) 8-10
Manufactured House No
Infestation None noted
Foyer
Living
Dining
Kitchen
Den
Family Rm.
Rec. Rm.
Bedrooms
i Baths
Laundry
Other
Area Sq.Ft.
. ROOMS
Basement
Levell
1
1
.75
x
594
566
• Level2
1
Area
1
Level 3
3
1
678
.
t" Finished above contains: 7 Rooms
4 Bedroom s)'
1 .75 Bath(s)'
1 .838 Square Feet of Gross Living Area
area grade
U INTERIOR Materials/Condition
Crpt Avg
HEATING
FrcdAlr
KITCHEN EQUIP.
Refrigerator
ATTIC
None ❑
AMENITIES
Fireplace(s) I FR DNone
CAR STORAGE:
Floors ,Vinyl
Type
`(�
- Painted DW Avg
Fuel Nat.Gas
Range/Oven Ll
Stairs ❑
Patio 10'X14' ❑X
Garage I of cars
Walls
Stair
Deck El
Attached 4
Trim/Finish AndrsnFir/St A
ConditionWork i ng
Disposal®�
Drop
MC
r❑�
Porch ❑
Detached
Bath Floor Vinyl Avg
COOLING
Dishwasher
Scuttle LA1
0
❑
Fence Wood Slat 0
Built -In
Bath Wainscot CermtcTile Avg
Central Yes
Fan/Hood
Floor
❑�l
Pool Li
Carport
Doors HC Mahog Avg
Other None
Microwave
Heated
Prssbd/wd vnr cabs Avg
CondilionUnknwn
Washer/Dryer ICI
r❑
t I Finished
I I
Driveway 2
Additional features (special energy efficient items, etc.): See Attached Addendum.
Condition of the improvements, depreciation (physical, functional. and external), repairs needed, quality of construction, remodeling/additions. etc.: There iS
no functional or external obsolescence noted. The home has received average maintenance. the
sidint on the back of the tarage is close to the ground and has some damage due to moisture.
Adverse environmental conditions (such as, but not limited to, hazardous wastes, toxic substances, etc.) present in the improvements. on the site, or in the
immedialevicinityoflhesubjectproperty: There are no adverse environmental conditions noted in the
improvements, on the site or the immediate area: the appraiser is not an expert in this field.
PAGE 1 OF 2 Fannie Mae Form 1004 6-93
Ilry mm u. rud,ad on La Ays." i:i., t as,a, +YYewn4leL.+MFN
aluatlon Section
U rORM RESIDENTIAL APPRAISAL ORT
6957thgr
File No. 6967THGR
ESTIMATED SITE VALUE _ $ 20,000
Comments on Cu:,i Approach (such as, source ot cost estimate,
ESTIMATED REPRODUCTION COST -NEW OF IMPROi MENTS:
Dwelling 1 ,838 sq. Ft. e $ 48.48 = $ 89.106
site value, square Lot calculation and for HUD, VA and FmhA. the
estimated remaining economic life of the property): COS figures
Bsmt" 594Sq. Ft. e$ 9.41 = 5,590
are calculated using Marshall and Swift Cost
FP,Patio,Appl,CFan 5,600 ,
Summation and local builder costs. Physical
Garage/Carport 861 Sq. Ft. e $ 12.74 =- 10,969
depreciation is calculated using the
Total Estimated Cost New ,. $ 111,265
Age/Life Method and observed effective age.
Less Physical
Functional
External
Remaining economic life is estimated to be
Depreciation 15,000
$0
$0 = 5 15,000
58-61 years.
Depreciated Value of Improvements = S 96,265
"As -is" Value of Site Improvements .......... ... _ $ 4,200
INDICATED VALUE BY COST APPROACH = $ 120,500
ITEM J
SUBJECT
COMPARABLE NO. 1
COMPARABLE NO. 2
COMPARABLE NO.3
4925 West 7th
Address Greeley.
Street
907 '.0th Avenue
DOM: 14
4935 West 9th street
DOM: 10
520 47th Avenue Court
DOM: 13
Proximit'toSubject
i3,
Blocks SW
2 Blocks South
4 Blocks NE
Sales Price
S 112,400W
$ 103,500
$ 109,900
$ 123,000
Price/Grass Liv. Area
$ 61.15 0
$ 63.30 0
$ 68.52 (d
$ 83.11 p
Data and/or
Verification Sources
Inspection
County RecrdsS.Cost
Realtor/MLS-sold
igen 351-6848
Realtor/MLS-sold
J.Depetro 356-1331
Realtor/MLS-sold
D.Greener 330-7700
VALUE ADJUSTMENTS
DESCRIPTION
DESCRIPTION
.(-)$A4,siment
DESCRIPTION I -HS Adjust
DESCRIPTION
•(9IM1eatment
Sales or Financing
Concessions
CVL $106280:CVL
.............. ....
8 59,._0.;:pta_._ #:8.37'3°/
$88125
0 pts
CVL $98860
9% 0 pts
CVL $110700
10% 0 pts
Date of Sale/Time
Value %f10L95.5/19/95
3/24/95
2/28/95
Location
Westmoor WestWestmoor
West
Westmoor West
Westmoor West
Leasetold/Feesimple
Fee Simple ',Fee
Simple 1,
Fee Simple ]
Fee Simple ]
Site
8250 SF
Alp SF 3
8250 SF 1
11250 SF ]
-3.000
view
Average;Area]Average;Area]
Average -Area]
Avg-;Trffc ]
+3,000
Design and Appeal
SplitLvl/Avg
TriLevel/Avg
SplitLvl/Avg
SplitLvl/Avg
CHaliNolconstruction
Average
Average
Average
,
Average
Age
12 yrs: 1983116
yrs: 1979]
15 yrs: 1980]
7 vrs: 1988 ]
-7,000
Condition
Cood;Dated ]Good;New
Crpt
-4,000
Gd;Crpt-2yrs]
-2,000
Good;+Decor ]
Above Grade
Total
Bdrms
Baths
Total r harms Baths
Total : Bdrms : Baths
Total
Brims : Baths
RoomCount
7
4
1-15W_
3' 2
6' 3' 1 .75
7
3' 3
-1,500
Gross Living Area
1 , 838 Sq. Ft.
1 , 635 Sq. Ft.
+5 ,100
1,604 Sq. Ft.
+5, 900
1,480 Sq. Ft.
+9,000
Basement&Finished
RoomsBelowGrade
594 SF Wlk/UpNone
Unfinished
+5,600
416 SF
Unfinished
+1,700
506 SF
90%:RR,BR,Ba
+800
-7s500
Functional Utility
Standard
Standard
Standard
Standard
Heating/Cooling
GFA/Central
GFA/Humid
+1,200
GFA/Central
GFA/Central
Energy Efficient Items
Standard
Standard
Standard
Standard
Garage/Carport
4C Garage
2C Garage
+4,000
2C Garage
+4,000
2C Garage
+4,000
Porch. Patio, Deck,
Fireplace(s),etc.
Patio
Fireplace
Patio
FP,Shed
-500
Patio,HotTub
Fireplace
-2,000
Deck,Patio
Fireplace -gas
-2,500
-500
Fence.Pool.etc.
Ldsp,Fence
Ldsp Fnc,SP
-1,500
+Ldsp,Fnc,SP
-4,000
+Ldsp,SP,Fenc
-4,000
RO,DW,CFan
RO,DW RFR
RO,DW, CFans
-600
RO,DW
+300
Net Adi.(total)
I -IS 9,900
-TX + H - ;$ 3,000
( 1+ rri- $ 8,900
Adjusted Sales Price
of Comparable
,(_,.
Gross;21 . �
,yet: 9.6 $ 113,400
Goss 18.4:
Net: 2.7 $ 112,900
Gross :35.0 i
Net: -Te2:S 114,100
Comments on Sales Comparison (including the subject property's compatibility to the neighborhood, etc. ): All sales are from the subject's
subdivision and recent sales. Sale #1 is the most recent sale, but does not have a basement.
Sales #2 and #3 are most similar in style. #2 is more similar in above grade size, but lfl is
more similar in room count. #3 is a newer home with very good decor and landscaping. These
sales are close in proximity and form a tight range of indicated values. Equal emphasis given
to all sales.
ITEM
SUBJECT
COMPARABLE NO. 1
COMPARABLE NO.2
COMPARABLE NO.3
Date. Price and Data
Source for prior sales
vaminyearotappraisal
No prior saleLast
in last 12 mC$62500
County RecorcCounty
sold 7/31/86
Record
Last sold 3/31/94
$72000
County Record
Last sold 8/26/88
$73300
County Record
Analysis of any current agreement of sale, option, or baling of the subject property and analysis ot any prior sales of subject and comparables within one year of the date of appraisal:
There have been no previous sales of the subject or comparable sales within the last year,
except the ones indicated in this analysis.
$ 113,000
INDICATED VALUE BY SALES COMPARISON APPROACH
N.
Estimated Market Rent S N/A /Mo. x Gross Rent Multiplier N/A=$ A/A
INDICATED VALUE BY INCOME APPROACH (If Applicable)
This appraisal is made U "as is" [_] subject to the repairs, alterations. inspections or conditions listed below U subject to completion per plans and specifications.
The subject is appraised in its present condition. Because these homes are not
typically rented, there is insufficient data to develop an Income Approach to value.
Final ReconciltationMost emphasis is given to the Sales Comparison Analysis because it best represents
the typical motivations of buyers and sellers. The Cost Approach is supportive, but because of
current market conditions, sales are better indicators of valueli
The purpose of this appraisal is to estimate the market value of the real property that is the subject of this report, based on the above conditions and the cerbhcabon, coi
and limiting conditions, and market value definition that are stated In the attached Freddie Mac Form 439/Fannie Mae Form 10048 (Revised 6/93 )
I (WE) ESTIMATE THE MARKET VALUE, AS DEFINED. OF THE REAL PROPERTY THAT IS THE SUBJECT OF THIS REPORT, AS OF June 9. 1995
(WHICH IS TFjE T ECTION A` ND SE CT VE DATE OF WS REPUPE) VI O Y PPR 000
APPRAISE/orJ /�I" SUPERVISORY APPRAISEfl (ONLY IF REQUIRED):
Signature klc Signature
Name Karen L. Cavender, SRA
Date Report Signed June 12, 1995
State Certification #
State
Name
Dale Report Signed
Slate Cerlitication #
Did U Did No
Inspect Property
State
Stale
Fannie Mae Form 1004 6/93
State CO Or State License #
PAGE 2 C: 2
•Or State License # AL01314986
Freddie Mac Form 70 6/93
Karen L. Cavender, SRA
Karen L. Cavender
Real Estate Appraisal
6957thgr
File No. 6967THGR
ADDITIONAL FEATURES:
Carpets are in average to good condition, but mixed in color and somewhat dated. The garden
level has a walk-up from the bedroom to the back yard. There is one ceiling fan. The back
two bays of the garage appear to be an addition.
APPRAISAL DEVELOPMENT AND REPORTING PROCESS:
This is a Summary Appraisal Report which is intended to comply with the reporting
requirements set forth under Standards Rule 2-2(b) of the Uniform Standards of Professional
Appraisal Practice for a Summary Appraisal Report. As such, it presents only summary
discussions of the data, reasoning, and analyses that were used in the appraisal process to
develop the appraiser's opinion of value. Supporting documentation that is not provided with
the report concerning the data, reasoning, and analyses is retained in the appraiser's file. The
depth of the discussion contained in this report is specific to the needs of the client and for the
intended use stated in the report. The appraiser is not responsible for unauthorized use of this
report.
To develop the opinion of value, the apppraiser performed a complete appraisal process, as
defined by the Uniform Standard of Professional Appraisal Practice. This means that no
departures from Standard 1 were invoked.
SUPPLEMENTAL CERTIFICATIONS:
I certify that, to the best of my knowledge and belief, the reported analyses, opinions and
conclusions were developed, and this report has been prepared in conformity with the
requirements of the Code of Professional Ethics and the Standards of Professional Practice of
the Appraisal Institute.
I certify that the use of this report is subject to the requirements of the Appraisal Institute
relating to review by its duly authorized representatives.
As of the date of this report, I, Karen L. Cavender, SRA have completed the requirements
under the continuing education program of the Appraisal Institute.
Karen L. Cavender
Real Estate Appraisal
6957thgr
File No. 6967THGR
41'
21'
6-24-170
Floorplan Sketch
32.3'
21'
A
T
H
SR
82
82 •
to
L
K
/
U:
i
KIT/DR
_J
: RF It L]
-=
.
UP
Living Room
D7
BR
CL 28.3'
Family Room
.9• 41?
STOOP
Living
First Floor
Second Floor
Other
Total Sq Ft
594
566
678
1838
Living
21 x 32.3 x 1
20 x 28.3 x 1
28.3 x 21 x 1
Total Sq Ft
= 678
= 566
= 594
1838
Garage 861
SUBJECT PROPERTY PHOTO ADDENDUM
Karen L. Cavender
Real Estate Appraisal
2828 Silverplume E-3
Fort Collins, Colorado 80526
(303) 223-8340
6957thgr
File No. 6967THGR
FRONT VIEW OF
SUBJECT PROPERTY AT:
4925 West 7th Street
Greeley, CO 80634
Appraised: June 9, 1995
REAR VIEW OF
SUBJECT PROPERTY
STREET SCENE
COMPARABLE SALES PHOTO ADDENDUM
Karen L. Cavendor
Real Estate Appraisal
2828 Silverplume E-3
Fort Collins, Colorado 80526
(303) 223-8340
6957thgr
File No. 6967THGR
COMPARABLE SALE #1
907 50th Avenue
DOM: 14
Sale Date: 5/19/95
Sale Price: $103,500
COMPARABLE SALE #2
4935 West 9th Street
DOM: 10
Sale Date: 3/24/95
Sale Price: $109,900
COMPARABLE SALE #3
520 47th Avenue Court
DOM: 13
Sale Date: 2/28/95
Sale Price: $123,000
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6957thgr
File No. 6967THGR
DEFINITION OF MARKET VALUE: The most probable price which a property should bring in a competitive and open market
under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming -the price is not
affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from
seller to buyer under conditions whereby: (1) buyer and seller are typically motivated; (2) both parties are well informed or well advised,
and each acting in what he considers his own best interest; (3) a reasonable time is allowed for exposure in the open market; (4) payment
is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto; and (5) the price represents the normal
consideration for the property sold unaffected by special or creative financing or sales concessions* granted by anyone associated with the
sale.
*Adjustments to the comparables must be made for special or creative financing or sales concessions. No adjustments are necessary for
those costs which are normally paid by sellers as a result of tradition or law in a market area; these costs are readily identifiable since the
seller pays these costs in virtually all sales transactions. Special or creative financing adjustments can be made to the comparable property
by comparisons to financing terms offered by a third party institutional lender that is not already involved in the property or transaction. Any
adjustment should not be calculated on a mechanical dollar for dollar cost of the financing or concession but the dollar amount of any
adjustment should approximate the market's reaction to the financing or concessions based on the appraiser's judgment.
STATEMENT OF LIMITING CONDITIONS AND APPRAISER'S CERTIFICATION
CONTINGENT AND LIMITING CONDITIONS: The appraiser's certification that appears in the appraisal report is subject to the
following conditions:
1. The appraiser will not be responsible for matters of a legal nature that affect either the property being appraised or the title to it. The
appraiser assumes that the title is good and marketable and, therefore, will not render any opinions about the title. The property is appraised
on the basis of it being under responsible ownership.
2. The appraiser has provided a sketch in the appraisal report to show approximate dimensions of the improvements and the sketch is
included only to assist the reader of the report in visualizing the property and understanding the appraiser's determination of its size.
3. The appraiser has examined the available flood maps that are provided by the Federal Emergency Management Agency (or other data
sources) and has noted in the appraisal report whether the subject site is located in an identified Special Flood Hazard Area. Because the
appraiser is not a surveyor, he or she makes no guarantees, express or implied, regarding this determination.
4. The appraiser will not give testimony or appear in court because he or she made an appraisal of the property in question, unless specific
arrangements to do so have been made beforehand.
5. The appraiser has estimated the value of the land in the cost approach at its highest and best use and the improvements at their
contributory value. These separate valuations of the land and improvements must not be used in conjunction with any other appraisal and
are invalid if they are so used.
6. The appraiser has noted in the appraisal report any adverse conditions (such as, needed repairs, depreciation, the presence of hazardous
wastes, toxic substances, etc.) observed during the inspection of the subject property or that he or she became aware of during the normal
research involved in performing the appraisal. Unless otherwise stated in the appraisal report, the appraiser has no knowledge of any hidden
or unapparent conditions of the property or adverse environmental conditions (including the presence of hazardous wastes, toxic
substances, etc.) that would make the property more or less valuable, and has assumed that there are no such conditions and makes no
guarantees or warranties, express or implied, regarding the condition of the property. The appraiser will not be responsible for any such
conditions that do exist or for any engineering or testing that might be required to discover whether such conditions exist. Because the
appraiser is not an expert in the field of environmental hazards, the appraisal report must not be considered as an environmental assessment
of the property.
7. The appraiser obtained the information, estimates, and opinions that were expressed in the appraisal report from sources that he or she
considers to be reliable and believes them to be true and correct. The appraiser does not assume responsibility for the accuracy of such
items that were furnished by other parties.
8. The appraiser will not disclose the contents of the appraisal report except as provided for in the Uniform Standards of Professional
Appraisal Practice.
9. The appraiser has based his or her appraisal report and valuation conclusion for an appraisal -that is subject to satisfactory completion,
repairs, or alterations on the assumption that completion of the improvements will be performed in a workmanlike manner.
10. The appraiser must provide his or her prior written consent before the lender/client specified in the appraisal report can distribute the
Co
DATE: JULY 27, 1995
TIME: 11:00 A.M.
SUBJECT: RICHARD & CHERYL GREGG
ADDRESS: 4925 W. 7th STREET, GREELEY
PIN#: 1936986
lI C FRO S O L V E CAMA M A SYSTEM 07-25-1995. 11:57:22
ELD COUNTY Disk: B Class 95 Group 11 Sub -6p. 427 User:WEL
1/17/93 Session 1 1
Serialized Pape 1 833 Report Page 1 1
DMPARABLES REPORT OF SOLD AND UNSOLD PROPERTIES
ales file 69518P00.420 was used.
Subiect Record 1 23551 1936986 4925 N 7 5T GREY
8 Records were considered. (The subject record was excluded from consideration.). Records explicitly excluded were: 2452
Records were selected according to user -defined criteria
14 factors were used in the comparables selection.
(The difference was raised to a power of 2 1. Record Range Considered = 1 to 606z
SUBJ.RECORD MOST COMPARABLE NEXT MOST COMP. 3rd MOST COMP. 4th MOST COMP. 5th MOST COMP.. COMP,WT. ADJ.RATE
RECORD No. 23551
RECORD I.D. 1936986
NAME/ADDR. 4925 N 7 ST
2453 2456 I 137
1962586 1964386 0042189
4818 W 9 STRD 6
4743 N 9 STRD 6 4924 W 6 ST 6
2434 2411,
1949386 1940186
4943 W 8 STRD 8
L 812 49 AV 6RLY
1 FACTOR FAC.VAL.
9 SALE PRICE 0
11 SALE DATE 0
121 NEIGHBORHOOD 15
39 STYLE 7 SPLIT
FAC.VAL. ADJUST
131500
940124
15
7 SPLIT
FAC.VAL. ADJUST
114700
930810
0 15 0
7 SPLIT
FAC.VAL. ADJUST
91000
930122
15
7 SPLIT
0
FAC.VAL. ADJUST
79500
930429
15
7 SPLIT
FAC.VAL. ADJUST
94500
931118
0 15 0
7 SPLIT
10 0
49 EST NALL TYP 2 F HARD 2 F HARD 2 F HARD 2 F HARD 2 F HARD 2 F HARD
35 YEAR BUILT 1983 1980 0 1980 0 1988 0 1983 0 1981 0 10 0
38 TOTAL SO FT 1848 1690 6478 1981 -5453 1734 4674 1618 9430 1604 10004 20 41
61 GARAGE SG FT 882 572 3100 489 3930 420 4620 520 3620 520 3620 10 10
40 QUALITY 3 FAIR 3 FAIR 3 FAIR 3 FAIR 3 FAIR 3 FAIR
42 BSMT SO FT 588 598 -120 672 -1008 544 528 416 2064 416 2064 10 12
43 FIN BSMT FUL 0 0 0 0 0 0 0 0 0 0 0 10 13
44 FIN BSMT PAR 0 0 0 0 0 0 0 0 0 0 0 10 13
45 NO. FUL BATH 1 1 0 2 -3000 1 0 1 0 1 0 10 3000
46 NO, 3/4 BATH 1 1 0 0 3000 2 -3000 0 3000 1 0 10 3000
47 NO. 1/2 BATH 0 1 -2300 1 -2300 0 0 1 -2300 0 0 10 2300
15 LAND VALUE 18000 18000 0 18000 0 18000 0 18000 0 18000 0 0 1
71 SUBDIVISION 1010397 1010397 1010397 1010397 1010397 1010397
94 OCC 2 VALUE 0 0 0 0 0 0 0 0 0 0 0 0 1
99 DCC 3 VALUE 0 0 0 0 0 0 U 9 0 0 0 U 1
118 PARCEL 181 9590340 9590341 0 9590342 0 9590340 0 9590341 0 9590341 0 15 0
A. T ADJ SALE P 0 141.191 130.838 112.339 94.946 103.997 MEAN STD.DEV.
B. TOTAL ADJUSTMENTS ABOVE 7.159 -4.831 6,822 15.814 15.688
C. ADJUSTED T ADJ SALE P 148.350 126.007 119.162 110.761 119.685 124,793 14.240
D. COMPARABILITY INDEX 100 62 29 10 0 COV= 11.4%
E. MEAN WEIGHTED BY COMPARABILITY INDEX 135.410
F. SALE PRICE ' 0 131.500 114.700 91,000 79,500 94.500
G. ACTUAL VALU 126.302 108.737 118.772 113.861 105.014 102,100
H. RATIO: F/C .8864 .9103 .7637 .7178 .7896 .8135 .082
J. STD. DEVIATION OF (14.1 ABOUT 1.0 .0502
+4+4+4444444444+4++44+44+4+4444+44+444444+44+44+44+44+4++44+++4444++44++4+4+4+4+4+4+4+44+4+44+444+44+4+4+++444+444++444+4++++4+4444
64
me 13
St
FSl
P
Neill Bros
Reservoir
21st St
b
0 1/2 mile
0 1/2 kilometer
Christi_ y
McAuliffe
Sale 4
11th St
N f4th St
20th St
Fairway Ln
Aims
Community
College
20th St Rd
Highland Hills
₹ Municipal Golf Course 22
24th Sr A 23rd
21s
261n St
25th Sr
E
Road 64
rsf S Rd
Is ,
t 7th St
Sha
h
N
v
11th St
Z.; < Homestead ` b
Rd am
16th St Ln
161 tRd
16th St Or
1
Sf Rd
24th St
0 y b M
7
1
st St Rd
12th S1 Dr
Grapevine
Pond
A
20th St g
1st St A
21s f Rd $/
22nd Si
24th St ;11=+';•
.c Gateway P1
Rd
6th —S
71r
rat
1i
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hilmil IIII III II
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MOST COMPARABLE
NEXT MOST COMPARABLE
S
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